Citigroup Inc. Has $4.58 Million Stock Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Citigroup Inc. decreased its holdings in shares of Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) by 29.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 133,482 shares of the company’s stock after selling 56,833 shares during the quarter. Citigroup Inc.’s holdings in Apartment Income REIT were worth $4,580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AIRC. State Street Corp grew its holdings in shares of Apartment Income REIT by 13.8% during the first quarter. State Street Corp now owns 8,563,449 shares of the company’s stock valued at $457,802,000 after buying an additional 1,041,150 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Apartment Income REIT by 130.6% during the first quarter. Invesco Ltd. now owns 982,220 shares of the company’s stock valued at $52,509,000 after buying an additional 556,256 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Apartment Income REIT by 33.3% during the third quarter. Neuberger Berman Group LLC now owns 1,525,400 shares of the company’s stock valued at $58,899,000 after buying an additional 381,275 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Apartment Income REIT by 513.9% during the third quarter. Macquarie Group Ltd. now owns 440,216 shares of the company’s stock valued at $17,159,000 after buying an additional 368,506 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its holdings in shares of Apartment Income REIT by 223.3% during the third quarter. ExodusPoint Capital Management LP now owns 462,243 shares of the company’s stock valued at $17,852,000 after buying an additional 319,262 shares in the last quarter. Hedge funds and other institutional investors own 99.35% of the company’s stock.

Apartment Income REIT Stock Performance

Shares of NYSE AIRC opened at $35.17 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 10.47 and a beta of 0.90. The business’s 50-day simple moving average is $35.30 and its 200-day simple moving average is $36.31. Apartment Income REIT Corp. has a 52 week low of $32.51 and a 52 week high of $46.38.

Apartment Income REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Friday, May 19th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Thursday, May 18th. Apartment Income REIT’s dividend payout ratio is 53.57%.

Insider Activity

In other Apartment Income REIT news, Director John D. Rayis bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was purchased at an average price of $34.48 per share, for a total transaction of $34,480.00. Following the purchase, the director now directly owns 9,412 shares in the company, valued at $324,525.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Apartment Income REIT news, Director Devin Ignatius Murphy bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was purchased at an average price of $34.00 per share, for a total transaction of $85,000.00. Following the purchase, the director now directly owns 11,386 shares in the company, valued at $387,124. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John D. Rayis acquired 1,000 shares of Apartment Income REIT stock in a transaction on Friday, March 17th. The stock was purchased at an average price of $34.48 per share, with a total value of $34,480.00. Following the transaction, the director now directly owns 9,412 shares in the company, valued at approximately $324,525.76. The disclosure for this purchase can be found here. 0.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Apartment Income REIT in a report on Monday, January 23rd. They set an “outperform” rating and a $39.00 price target on the stock. BMO Capital Markets upgraded Apartment Income REIT from an “underperform” rating to a “market perform” rating and set a $39.00 target price on the stock in a research note on Wednesday, March 15th. Finally, Mizuho lowered their target price on Apartment Income REIT from $45.00 to $40.00 in a research note on Friday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

About Apartment Income REIT

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AIR is a real estate investment trust focused on the ownership and management of quality apartment communities located in the largest markets in the United States. AIR is one of the country's largest owners and operators of apartments, with 99 communities in 12 states and the District of Columbia.